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View Diary: House Democrats push for student loan interest vote (15 comments)

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  •  Student loan dischargeability in bankruptcy... (4+ / 0-)
    Recommended by:
    cocinero, bink, 4mygirls, Hirodog

    ...would be a big help.

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Thu Jun 13, 2013 at 04:38:25 PM PDT

    •  Yep (3+ / 0-)
      Recommended by:
      Sparhawk, Hirodog, tobendaro

      It would certainly discipline the out-of-control student lending market.

      "I'll believe that corporations are people when I see Rick Perry execute one."

      by bink on Thu Jun 13, 2013 at 04:43:10 PM PDT

      [ Parent ]

      •  No one has an incentive to keep it under control (4+ / 0-)
        Recommended by:
        bink, Hirodog, WillR, nextstep

        Schools get paid instantly, so they'll encourage people to take loans without much regard for whether students will be able to cover them. Sure, the school may get low ratings later (much later), but otherwise we'll have to lay off the sociology department today! No one wants that.

        Student loan companies will just loan you whatever. They'll get paid eventually (most likely), they don't care.

        Parents just see that college is "necessary" to get a good job, they don't do anything about it.

        Students are 17-18 years old and their experience of money is mostly that a few hundred dollars is more money than they've ever seen in one place at a time and the idea of thousands or tens of thousands of dollars is completely beyond their experience.

        There is no one in this sequence of people who is incentivized to stop bad loans for non-performing majors.

        (-5.50,-6.67): Left Libertarian
        Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

        by Sparhawk on Thu Jun 13, 2013 at 04:52:31 PM PDT

        [ Parent ]

        •  finally something that we don't have to disagree (0+ / 0-)

          on Sparhawk

          "The Earth is my country and Science my religion" Christiaan Huygens.................... Please join our Kos group "Money and Public Purpose". The gold standard ended on August 15, 1971, its time we start acting like it.

          by Auburn Parks on Thu Jun 13, 2013 at 05:54:57 PM PDT

          [ Parent ]

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